Nation briefing

Family donates $400 million to school

September 05, 2008

MASSACHUSETTS — Eli and Edythe Broad, who are giving away a multibillion-dollar fortune made in real estate and insurance, announced on Thursday their biggest gift so far, a $400 million donation to the Broad Institute of MIT and Harvard.

The institute works to discover genetic links to major diseases and determine the molecular causes of disease, which could lead to new ways to diagnose and prevent illnesses and develop medicines.

The money will be managed by Harvard University, with the goal of turning it into a $1 billion endowment that will make it one of the wealthiest scientific research centers in the world.